FG needs $100bn annually to address infrastructure deficit —Emefiele - Punch Newspapers
The most widely read newspaper in Nigeria
25 September 2021Governor of the Central Bank of Nigeria, Godwin Emefiele, on Saturday, said that the Federal Government needed about US$100 billion annually to address the nation’s infrastructure deficit.Emefiele made the disclosure at the 30th Anniversary Conference and Awards of the Finance Correspondents Association of Nigeria at Dover Hotel, Ikeja, Lagos.
The two-day conference has ‘Financing Infrastructure and SMEs for Inclusive Growth in Post-COVID-19 Economy’ as theme.“In Nigeria, the current level of infrastructure deficit is a major constraint to economic development and attainment of growth average rate of at least five to seven per cent required to boost productivity and sustainable growth for businesses.
“According to the World Development Indicators (2019), 56.20 per cent of Nigerians have access to electricity, while electric power consumption stood at 144.52 kWh per capita as of 2018.“While infrastructure deficit in Nigeria is estimated to be about 1.2 per cent of GDP, it is projected that the Federal Government needs to commit about US$100 billion annually to address the nation’s infrastructural deficit,” Emefiele said. headtopics.com
He was represented by the Director of Corporate Communications Department of CBN, Osita Nwanisobi.The apex bank governor said also that lack of access to quality infrastructure had been a limiting factor to MSMEs in developing countries delivering on their potential for growth and employment creation.
He said that a survey by Price Waterhouse Coopers revealed that the formal MSMEs have been identified to contribute about 40 per cent of GDP in emerging economies, of which Nigeria was one.Beyond infrastructure, he said that access to finance remained one of the biggest threats to MSME development in both developed and developing economies alike.Read more: The Punch Newspapers »
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It’s is a massive opportunity if you make contracts work and guarantee returns reasonably. Corruption is the reason we are backward!!!! Una wan chop more money Can someone tell this idiot, that you don’t borrow money for infrastructures that can’t pay back the money you borrowed. You can’t have what you don’t have the money for. You borrow money for projects. You share half of the money among yourselves. And abandon the projects
If this man was a northern, he planned with bubu. But, been a southern he is an IDIOT Yeah, the deficit in the infrastructure of Niger Republic. Isi ewu. This man have forgotten that he is CBN governor, not a politician.when you mixed up the two the results is what we currently have in Nigeria. Instead of fixing the problem he is busy chasing shadow by calling out abokifx. Mr Emiefele wake up allow BDC to access forex.
How much is dollar now These people don kolo las las Realising that target will remain a pipe dream unless Nigeria takes a radical approach in public revenue generation. Infrastructures reduce the cost of living. Multiple taxations are a clog in internal generation revenue as more than half finds its way into individuals’ pockets.
This people go just wide mouth dey call figure... fear no dey catch una again, na una dey catch fear now.... yeye people Then why is Nigeria spending money in Nigeria Republic?
Pay Igboho N20bn damages, Yoruba Nation agitators tell FG - Punch NewspapersThe most widely read newspaper in Nigeria Lmaooo Does FG has ordinary 1million to give someone?
so how much has been budgeted in all these years he has been CBN or has he just been loothari's yes boy? another free chicken? So he's now the Finance Minister or Minister for Budget Planning, abi? This is true as the western nation routinely print trillions of dollars multiple times a year for economic development while Africa without such privileges and whose economy is controlled by dollars have to borrow it as frequent as possible to survive
Thief Story So abokiFX wasn't actually the culprit here, cos I don't see how their post sent us backwards that we need this amount yearly for survival. Then borrow from China as usual by bubu Who wan give una? Ole See his mouth like $100b. He thinks Naija is the only African country in that situation? Instead of them to manage what we've judiciously, na to dey borrow & embezzle dey sweet dem. So tey dem wan borrow future money join. It's unfortunate how smart ppl get into govt & misbehave.
Thunder fire you
Secure release of Nigerians illegally detained abroad, Reps tell FG - Punch NewspapersThe most widely read newspaper in Nigeria How many people from the North are outside Nigeria wicked souls Aja ngbo Have they secured those ones they have detained illegally in Nigeria ?
Are u a politician or CBN governor This man is a yahoo-yahoo cbn governor Thief How much have generated. See him head. Na d€bt and lies full am. Most useless CBN Governor ever u.s. or naira? Let them localize corporate affairs in each states to see rapid development. You will see money shuffling to states that are friendly to business, as a result speeding development.
Ole!! Emefiele should stop using drugs, or better still change his dealer.
Don’t increase electricity tariff, labour warns FG - Punch NewspapersThe most widely read newspaper in Nigeria Lol... They better not try it I don't know who is more useless between this NLC president and the Senate president
...Inside that amount this vulture head and his friends shall steal some of it...🙄🙄🙄 By the time APC is done with Nigeria there will be nothing left to fall back to
FG converts National Blood Service to commission - Punch NewspapersThe most widely read newspaper in Nigeria Jehovah Witnesses don't like this kind of Commission based on their beliefs. Strangely, many of them I know are taking Covid-19 vaccines unreservedly without raising religious reasons, unlike the case of blood transfusion they kick against. Different strokes for different folks. Daily creating economic drainages all over the place to an over bloated wage burden. Empty heads or no do goodies
Zulum to FG: Deploy technology to protect infrastructure in BornoBorno State Governor Babagana Zulum on Thursday urged the Federal Government to deploy technology to protect physical infrastructure in the state.
We’re Building World-class Infrastructure With Loans – FGThe federal government said yesterday that the Buhari administration is taking loans in order to build world-class infrastructure that will benefit The question is, who will pay for these loans? Short distance trains from Warri to Itakpe. World class infrastructure? I shake my head in Pashtun, habitual Lai is at it again